privatization

noun

1. (British, English, Oxford, US, countable, uncountable)The transfer of a company or organization from government to private ownership and control.

   “Coordinate term: denationalization”

   “The party, moreover, facilitates the accumulation of private fortunes and industrial empires by its foremost members and collaborators through ‘privatization’ and other measures, thereby intensifying centralization of economic affairs and government in an increasingly narrow group that may for all practical purposes be termed the national socialist elite.”

2. (British, English, Oxford, US, countable, uncommon, uncountable)The rendering of a thought or an idea, as private in scope.

   “Questioning the privilege of biology went hand in hand with a challenge to the privatization of the family and the notion that parents own children and may therefore treat them however they choose.”